Cox Communication | 2278 NW 43rd St
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Cox Communication 2278 NW 43rd St
3,500 SF Retail Building Gainesville, FL 32605 £2,360,293 (£674/SF) 5.85% Net Initial Yield
Investment Highlights
- Brand New 10-Year Corporate Lease with 2 (5-Year) Option Periods to Extend
- Located at the Signalized Intersection of 43rd Street and 16th Boulevard, Averaging a Combined 43,800 Vehicles per Day
- Publix Across the Street in Millhopper Square Is Ranked in the Top 85th Percentile of Publix’s Nationwide with 1.2M Visits per Year
- 10% Rental Increases Every 5 Years Throughout the Initial Term and Options
- Adjacent to The Marketplace (90K+ SF), Thornbrook Village Shopping Center (82K+ SF), and Millhopper Shopping Center (80K+ SF)
- One-Mile Average Household Income of $119,955
Executive Summary
• The tenant recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The landlord is responsible for CAM, Taxes, and Insurance; however, gets reimbursed for all operating expenses
• Ideal, low-management investment opportunity in a state with no state
income tax
• The lease is signed by the corporate entity (S&P: BBB)
• Founded in 1898, Cox Communications is the largest private broadband provider in the Unite States
• Cox Enterprises is a global company with 50,000 employees and $23B in revenue
• Cox Communications, a subsidiary of Cox Enterprises, is the third-largest cable television provider in the U.S. serving approximately 6.5M customers, including 2.9M digital cable subscribers, 3.5M internet subscribers, and almost 3.2M digital telephone subscribers, making it the seventh-largest telephone carrier in the country
• A Fortune 500 company, Cox Communications achieved over $11B in revenue in 2023
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The landlord is responsible for CAM, Taxes, and Insurance; however, gets reimbursed for all operating expenses
• Ideal, low-management investment opportunity in a state with no state
income tax
• The lease is signed by the corporate entity (S&P: BBB)
• Founded in 1898, Cox Communications is the largest private broadband provider in the Unite States
• Cox Enterprises is a global company with 50,000 employees and $23B in revenue
• Cox Communications, a subsidiary of Cox Enterprises, is the third-largest cable television provider in the U.S. serving approximately 6.5M customers, including 2.9M digital cable subscribers, 3.5M internet subscribers, and almost 3.2M digital telephone subscribers, making it the seventh-largest telephone carrier in the country
• A Fortune 500 company, Cox Communications achieved over $11B in revenue in 2023
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
3,500 SF
Building Class
B
Year Built
2024
Price
£2,360,293
Price Per SF
£674
Net Initial Yield
5.85%
NOI
£138,075
Tenancy
Single
Number of Floors
1
Building FAR
0.01
Land Acres
7.41 AC
Zoning
OF - General Office
Amenities
- Signage
- Air Conditioning
Bike Score ®
Very Bikeable (87)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 06371-003-000 | Improvements Assessment | £232,164 |
| Land Assessment | £1,386,230 | Total Assessment | £1,618,394 |
PROPERTY TAXES
Parcel Number
06371-003-000
Land Assessment
£1,386,230
Improvements Assessment
£232,164
Total Assessment
£1,618,394
-
Kyle Fant -
Ivy Kwon -
Britt Raymond -
Power Broker Patrick Nutt -
William Wamble -
Scott Campbell -
SRS Real Estate Partners
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Cox Communication | 2278 NW 43rd St
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